Investors have pushed today’s stock market to its highest valuations ever, a big win for growth-first, large-cap portfolios. Up 28% year-to-date, the S&P 500 is booming — while comparable dividend-oriented portfolios by VanguardVIG

and SchwabSCHD

have risen just 19% and 12%, respectively. But with investors worried about a possible correction, some analysts believe America might be ready to diversify their gains with some good ol’ fashioned values.

• Analysts polled by WSJ argue that falling interest rates are making bonds and cash less attractive, but with stocks boasting bulky valuations, options are limited.
• One of those comfort choices where investors could find deals? Stocks with cheaper valuations, often dividend-yielding, value-oriented picks.

But buyer beware… Despite high valuations, that doesn’t necessarily mean investors will rotate out of growth stocks. In fact, while many bank leaders warn of a correction, others within the same institutions forecast higher highs for major indexes next year — nearly assuring that value plays could continue to underperform. And today, dividends remain relatively low across the S&P 500, with the index’s dividend yield dropping to a 20-year low of 1.19% last week. Still, there are some bright spots for investors seeking a balance of growth and value — mid-caps, financials, and the healthcare sector, for example.